November car sales fall 8 percent

Last Updated: Mon, Dec 10, 2012 05:04 hrs

Car sales in India slumped 8 percent in November, dashing hopes of a sustained revival in sentiment, as an expected festive season boom failed to materialise with high interest rates and rising ownership costs weighing on demand.

Automakers sold 158,257 cars in November, down 8.3 percent from a year earlier, according to data released by the Society of Indian Automobile Manufacturers (SIAM) on Monday.

Sales of motorcycles were flat at 867,518 vehicles. Truck and bus sales stood at 61,410 vehicles during the month, down 7.3 percent.

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